Offshore Rig Utilization Is Up

Worldwide offshore rig utilization rose this week due to increased drilling rig demand in Europe and the U.S. Gulf of Mexico, according to Offshore Data Services (ODS). The European offshore rig count increased by three rigs, with 92 of the 101 rigs in the region under contract, boosting utilization to 91.1 percent, ODS said. The number of rigs being used in the U.S. Gulf of Mexico remained rose by two to 182 under contract out of 210, putting utilization at 86.7 percent. There were 563 rigs under contract worldwide out of 649. Worldwide offshore rig utilization increased 0.9 percent to 86.7 percent. ODS' total worldwide offshore rig count includes changes in utilization and fleet size in regions beyond just the Gulf of Mexico and Europe.